First Summit

The first Arab-European Summit, concluded yesterday in the Egypt's Sharm El-Sheikh, succeeded in creating the appropriate atmosphere and laying down the foundations and rules that facilitate the enhancement of the economic partnership between the EU and the Arab countries and the investment of the available resources of each side to reach the desired economic integration.

The summit was successful before it was held, just because the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz - God bless him - was at the forefront of 24 Arab and European leaders and officials who were keen to attend the unique event. Besides, the summit kicked off in Egypt which began to regain its Arab and regional role, and is seeking to promote its economy by relying on alliances and partnership with the EU countries.

Although the summit tackled many important and complex political and economic files, it harnessed the political files for the service of the economy, a matter that is referred to by the slogan of the summit's activities: "Investing in Stability." Therefore, the leaders' words focused on the importance of renouncing violence, combating terrorism and creating new and modern mechanisms of cooperation and partnership, to achieve the hoped-for economic recovery.

The presence of the Kingdom at the summit drew the attention of the world, and the international media listened very well to the speech delivered by Saudi king in which he stressed the importance of alliance and partnership between the Arab countries and the European Union, but provided the fight against Iranian terrorism, and called for an international position to limit the actions of Tehran and its blatant interference in the Arab affairs, a matter which is reflected positively on the economic scene in the region.

The Kingdom counts on the economic alliance with the EU countries in the next phase to support Vision 2030 and achieve its general objectives of attracting domestic and foreign investments. In this vein, the Crown Prince made his last week Asian tour to Pakistan, India and China.

It was a political economic tour that witnessed a number of economic alliances and agreements. This clearly indicate that the Kingdom continues its growth and prosperity plans at all levels, by relying on strategic alliances with the strongest and largest economic powers in the world, a matter that augurs well for the Kingdom and the Arab region in the future.

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Riyadh Daily, published by the Al-Yamamah Press Establishment, is the first English daily published from the Saudi capital. Along with its sister publication, Al-Riyadh Arabic newspaper, Riyadh Daily has a long history in the Kingdom’s media industry. It was first published as a newsletter in the 1960s before it was developed into a broadsheet in 1985.